Adjusting Probability of Default for Carbon Pricing

Banks and other financial institutions are facing increasing pressure from regulators to manage financial risk related to climate change. The most significant of these are physical and transition risks.

In this webcast, Abhishek Raje of Wolters Kluwer will examine the effects of changes in carbon pricing on the banking system. He will assess climate change transition risk through multiple models and discuss how probabilities of default might evolve as well as the possible ways to address them. His presentation will feature:

• Climate Change Risk: Where We are Now
• Modeling Climate Risk
• Carbon-Adjusted Probability of Defaults
• Disclosures

Speakers



Abhishek Raje

Associate Director at Wolters Kluwer Financial Services - Risk & Finance

Abhishek Raje is the Associate Director at Wolters Kluwer, Professional Services, APAC. He has over 17 years of financial services experience in regulatory reporting, finance, and risk. During his 8 years at Wolters Kluwer, Abhishek has led multiple teams across the APAC region. He is also responsible for building the firm’s APAC risk capability, which has been pivotal in implementing various risk projects in APAC while helping to build the Basel IV product.

Abhishek’s prior experience at Accenture Consulting and BNP Paribas has helped him develop expertise in the needs of the APAC fintech market. He is a graduate in Electronics Engineering with a post-graduate in Finance.

Abhishek is an avid follower of global markets across asset classes and often does technical analysis of equities. Of late, he has turned his focus to the bullion and crypto markets. Abhishek has played cricket at Bengal Club, and his goal for 2022 is to become a better cook.

Detian Chen

Detian is currently working as a Product Validation and Model Risk Control Reporting and Governance Lead at Deutsche Bank in London. He manages model usage risk on a regular basis, specializing in Bonds & Equity Derivatives and sometimes also covering Commodities, FX and Rates Derivatives as well.

He has previously also worked as an Independent Pricing Verification Analyst at Societe Generale in Paris, specializing in Equity and Commodity Derivatives.

Detian is a graduate of the London School of Economics with a MSc. in Risk & Stochastics, and he is currently a certified FRM, a CFA charterholder as well as having earned his SCR certificate back in October 2020.

Michael Sell (Moderator)

SVP, Global Head of Institutional Outreach and Business Development

Michael Sell is a Senior Vice President at GARP where he leads the Institutional Outreach and Business Development team. Michael has over 20 years of market experience in various roles, including credit and market risk management, structured products, and investment management. Before joining GARP he was the Operating Officer at an alternative investment fund and began his career at Citigroup where he was a Vice President and Credit Officer in the Global Derivatives Group.